MoonTrader

Bullish trend being established - will it be enough?

BITSTAMP:BTCUSD   Bitcoin / Dollar
299 3 3
A bullish trend line has formed and will probably resolve within the next 2 days. If it is broken, we may retest the 550s, which will probably not hold up this time. If we do break through the medium-term bear trend, then I would take long positions above 607.

A potentially bullish signal is the full super moon on the evening of Aug. 10th. I am bullish-ish at this point. Lunar indicators are not absolute; the full moon is a reassuring sign for those who already have positions, but nothing is guaranteed. It's all about increasing the chances of success. If you feel you have the wiggle-room in your finances to take a little risk and go long with stop losses just below the current bull trend, then do it. If not, wait for a safe entry above 607 and consider shorting if the bull trend is broken.

Lunar indicators can be important in an emotionally-driven market such as this one, so watch closely what happens over the next few days.

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Cheers.
HerSerenity
2 years ago
Imho OBV divergences > OBV trendlines:
snapshot


My conclusion being the same, just stronger downwards bias -- trade the breakout and you'll be fine.
+2 Reply
MoonTrader HerSerenity
2 years ago
Thanks, I'll definitely take that into consideration.
Reply
Lechango PRO
2 years ago
I'd agree that the bearish trendline you have drawn is indeed the strongest one in play right now, if you extend it further back it hits near the peak of the last bubble. We are so close to breaking over it, and as you said it seems like a big movement is likely to occur in a few days with the supermoon.

Right now I think the market is waiting on big news, and when it hits I think it will be positive. Maybe it will be Circle opening it's doors to the public, which I don't think will spark a bubble singlehandedly, but it will bring enough money in to at least break through this bearish line. OK coin's new futures market looks like really good news as well. We will see but I am optimistic for sure.
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